What is consumer surplus and how is it calculated on a demand curve?

What is consumer surplus and how is it calculated on a demand curve?

• A. The total value consumers place on all units purchased.
• B. The area under the demand curve up to the quantity purchased.
• C. The area between the demand curve and the price paid, up to the quantity purchased.
• D. The price paid by consumers for all units purchased.

Answer: (C)